THE increasing price of gold might make a visit to the jewellery shop more expensive, but it will also hit the hip pocket in less obvious ways: dentistry and fine dining, for example.
Concerns about a global economic slowdown sent the gold price higher this week, with investors scrambling for the precious metal.
But if gold remains around its all-time high – $US1913 ($1824) an ounce – it will have flow-on effects beyond gold futures markets.
Foodservice Equipment International supplies hotels and restaurants with dining ware from German and French factories. Its luxury brands – Rosenthal, Bernardaud, Versace – use 24-carat gold to decorate their crockery…
Dan Nikolenko, a dental technician at DK Dental Studio, said a full gold crown can range anywhere from $500 to $1000. If the price of gold keeps rising then patients will have to pay more.
”If you have a look at whatever gold is worth now per gram, that’s what the dentist will charge,” he said. ”Whatever it cost the dentist to purchase the gold, he’ll charge on top.”
Brett Le Brocque, the chief investment analyst from Australian Bullion Company, says demand for gold bullion has increased 125 per cent in the past 12 months….Read more
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